DXY was uncertain Friday night. AUD too. Lead boots are stalled. Gold is sniffing Fed capitulation. Oil is sniffing Ukraine peace. Metals are trading DXY. The big bear is intact. EM trying again. But junk stalled. As yields popped, sniffing the opposite of gold. The bubble expands. This week, the big report is the US
ANZ has a hilarious cash rate analysis today. It has been, and remains, one of the most hawkish forecasters. We expect a 25bp rate cut from the RBA’s 11–12 August Monetary Policy Board meeting. The ‘no change’ decision in July showed the Board does not see itself as under pressure to cut the cash rate
By Lucinda Jerogin, Associate Economist at CBA It was a quiet week domestically with the ABS Monthly Household Spending Indicator surprised to the downside, rising by 0.5% in June to be 4.8% higher annually. Australia’s goods trade balance printed at $5.4bn in June. Offshore, the BoE cut the bank rate by 25bp to 4.0% as
After months of strong results, Australia’s auction market has experienced a loss of momentum alongside a stalling of price growth. Last week’s final auction clearance rate fell to 67.1%, the lowest clearance rate in six weeks. PropTrack also recorded slower price growth over the July quarter: Cotality’s preliminary auction results for this weekend indicate a pause
International Reading: Trump 2.0 is “Hoover 3.0.” GDP growth under Trump 1 was the worst since Hoover. But with tariffs, he’s now beating his own record. – Independent Social Security Predicted to Run Out of Money Sooner Due to Trump Bill – Newsweek Almost 90% Of Americans Are Worried About The Cost Of Groceries –
Asian share markets are having a poor final session for the week although Japanese shares are seeing a big bid in response to tariff reversals while the latest BOJ meeting summary was met with appreciation. Yen was relatively steady against USD but other currency pairs continue to push the once mighty King dollar down again
By Stephen Saunders Despite July’s highly aggressive return-visit from UNFCCC bovver-boy Simon Stiell, the Coalition seems unlikely to seriously challenge Labor’s net zero cult. Albanese Labor enjoys a masochistic relationship with the pro-China United Nations. Following UN open-borders precepts, massive immigration induces 75-80% of our (unnecessary) population growth. It is nearly as silly as the
One of the negative side effects of the Australia-United States Free Trade Agreement (AUSFTA), which took effect in 2005, was that it increased patent and copyright terms, raising the price of drugs and copyrighted products. Thomas Faunce of ANU assessed that AUSFTA “undermined Australia’s PBS” by “allowing the US to alter the basic processes of
Goldman shows why Australia’s rental shock isn’t over. Weekly data from SQM suggest growth has picked up somewhat over recent months (Exhibit 6). The SQM data tends to lead CPI rent inflation, given SQM measures average rents across the flow of newly advertised properties, whereas the ABS measures rents across the entire stock of rental
Ferrous market prices are holding as steel output plunges. CISA has been catching down to cratered offical data in recent months. Chinese export data for July showed steel exports still going strong, but iron ore imports are down 2.3% year to date despite being up 4.7% in the month. After a tough start to the